The U.S. Department of Housing and Urban Development (HUD) has published Fair Market Rents (FMRs) for Fiscal Year 2023.
Fair Market Rents (FMRs), published annually, are an estimate of the amount of money that would cover gross rents (rent and utility expenses) on 40 percent of the rental housing units in an area.
FMRs, which go into effect on October 1, are used in several HUD programs, including to determine the maximum amount that a Housing Choice Voucher will cover.
Here are the Fair Market Rents for Monterey County:
Studio apartment – $2112
One-bedroom – $2194
Two-bedroom – $2675
Three-bedroom – $3790
Four-bedroom – $4144
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